The South Korean conglomerate CJ Group announced Tuesday it will be the new title sponsor of a historic PGA Tour event named after a late legend.
CJ Group will sponsor the Texas-based CJ Cup Byron Nelson tournament for 10 seasons, starting in May 2024.
The tournament, established in 1944, had previously been called the AT&T Byron Nelson. Honoring the namesake golfer who captured 52 PGA Tour titles, including five majors, the tournament had previously been sponsored by American companies, such as Verizon, HP and EDS. It was the first PGA Tour event to bear the name of a professional golfer.
CJ Group will operate the Byron Nelson tournament with the Salesmanship Club of Dallas.
CJ Group previously ran the CJ Cup, the first three editions of which were held on the South Korean island of Jeju from 2017 to 2019. Due to the effects of the COVID-19 pandemic, the tournament was relocated to the United States from 2020 to 2022.
The CJ Cup had been held in October, during the early weeks of the season. The CJ Cup Byron Nelson will be played from May 2-5, 2024, sandwiched between the Masters and the PGA Championship, the first two major tournaments of the 2024 season. The new Byron Nelson event will have a total purse of US$9.5 million, with the champion earning 500 FedEx Cup points.
Three South Korean players have won the Byron Nelson tournament: Bae Sang-moon in 2013, Kang Sung-hoon in 2019, and Lee Kyoung-hoon in 2021 and 2022.
"Over the past three years that we've hosted our tournament in the United States, our sales and corporate image in the American market have grown exponentially," CJ said in a statement. "We've reached this decision to strengthen our marketing activities in the U.S. We're currently discussing ways to provide opportunities for Korean tour golfers to play at our event."
Source: Yonhap News Agency
